Clearwater Paper Co. (NYSE:CLW) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its holdings in Clearwater Paper Co. (NYSE:CLW) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,336 shares of the basic materials company’s stock after selling 1,400 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of Clearwater Paper worth $1,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of Clearwater Paper by 45.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,887,015 shares of the basic materials company’s stock worth $53,855,000 after purchasing an additional 587,043 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Clearwater Paper by 24.3% in the second quarter. Assenagon Asset Management S.A. now owns 219,983 shares of the basic materials company’s stock worth $10,663,000 after buying an additional 42,935 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Clearwater Paper in the third quarter valued at $1,043,000. Victory Capital Management Inc. lifted its position in shares of Clearwater Paper by 63.9% during the 3rd quarter. Victory Capital Management Inc. now owns 50,240 shares of the basic materials company’s stock valued at $1,434,000 after acquiring an additional 19,580 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Clearwater Paper by 39.1% during the 2nd quarter. Acadian Asset Management LLC now owns 218,505 shares of the basic materials company’s stock worth $10,586,000 after acquiring an additional 61,366 shares in the last quarter. Institutional investors own 89.98% of the company’s stock.

Clearwater Paper Price Performance

Shares of NYSE:CLW opened at $26.84 on Friday. The company has a market cap of $444.74 million, a P/E ratio of 31.21 and a beta of 0.33. The company’s fifty day moving average is $26.96 and its two-hundred day moving average is $37.27. The company has a quick ratio of 1.13, a current ratio of 1.78 and a debt-to-equity ratio of 1.72. Clearwater Paper Co. has a 12-month low of $24.17 and a 12-month high of $57.13.

Clearwater Paper announced that its Board of Directors has approved a share buyback program on Monday, November 4th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the basic materials company to purchase up to 23.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CLW shares. StockNews.com lowered Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 target price on shares of Clearwater Paper in a report on Tuesday, November 5th.

Clearwater Paper Profile

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.